Economy, Banking and Finance · 30 March 2026
Securities and Exchange Board of India (Sebi) approves Wealth First Portfolio Managers to launch mutual fund business.
Exam-focused facts from the 30 March 2026 current affairs briefing.
Key facts
- Wealth First Portfolio Managers received Sebi approval to start mutual fund operations.
- Lakshya Asset Management Company, sponsored by Wealth First Portfolio Managers, will be India’s first AMC headquartered in Ahmedabad.
- Lakshya AMC has onboarded Sanjiv Shah, Rajan Mehta, and Sanjay Gaitonde, former key members of Benchmark Asset Management Company.
- Benchmark AMC launched India’s first ETF Nifty BeES, India’s first gold ETF Gold BeES, and the world’s first money market ETF Liquid BeES.
- India’s mutual fund industry AUM grew from about ₹1 lakh crore in 2001 to over ₹82 lakh crore in early 2026.
- Passive investing represents 19–20% of total mutual fund AUM in India compared with over 50% in the United States.